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Ivalua SpendManagement Insights [ivory-search] Navigating CSRD Regulation: What Procurement, SupplyChain, and Finance Leaders Need to Know June 12, 2023 | | Sustainability by Vishal Patel In an effort to drive sustainability and combat climate change, the European Union has introduced the Corporate Sustainability Reporting Directive (CSRD).
In recent years, Körber’s global supplychainmanagement network has been intergrated increasingly into all relevant processes – from product development to requirements processing – due to its significant contribution to the company’s success.
The pandemic wreaked havoc on businesses and their supplychains, but even in these trying times, there’s a silver lining. What we learned about agility and resilience can be applied to future-proof the source-to-pay (S2P) process and help organizations meet any new challenge with confidence.
Ivalua, a global leader in spendmanagement, today announced that it has been selected by Swedish steel manufacturer SSAB to further improve the efficiency of its procurement processes and uphold and strengthen supplychain risk management thanks to Ivalua’s Source-to-Contract (S2C) solution. About Ivalua.
The majority of organizations consider supplychain transparency to be a top priority, however less than a third are satisfied with the level of visibility into their suppliers. Most organizations continue to suffer from severely limited visibility in the lower levels of their supplychains. About the research.
Modern SpendManagement and Accounts Payable software. Helping organizations spend smarter and more efficientlyby automating purchasing and invoice processing. How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. What's PLANERGY?
Ivalua SpendManagement Insights [ivory-search] Get Ready for Success! Gartner, 4 Workstreams for Successful Implementation of Any Procurement Application Vishal Patel VP Product Marketing Vishal has spent the last 15 years in various roles within the Procurement and SupplyChain technology market.
Leveraging Reveels unique position in parcel spendmanagement within the SupplyChain/Logistics ecosystem, Marc collaborates with adjacent solutions to provide comprehensive offerings for high-volume shippers. How do I shape where I need to go next year, knowing that supplychain is changing really quickly?
Ivalua SpendManagement Insights [ivory-search] Procurement Rising: The Silent Inflation Tax on Manufacturers February 27, 2023 | | Manufacturing by Doug Keeley Last year, the Consumer Price Index was the highest it has been in four decades, making inflation one of the most concerning macroeconomic factors facing the business world today.
On the one hand, supplychain weaknesses are open to risk, and even the smallest challenges are magnified. 2) Prioritise visibility At the heart of managing demand is supplychain visibility. The function must have a clear view of the supplychain through accessible, accurate and reliable supplier data.
Ivalua SpendManagement Insights [ivory-search] A Balancing Act: Drive Sustainability while Managing Cost and Risk April 27, 2023 | | SupplyChain by Vishal Patel Cost, Risk, and Sustainability. Meanwhile, the pace of business is accelerating, requiring organizations to be more responsive and agile.
Ivalua SpendManagement Insights [ivory-search] Procurement in the Age of Uncertainty: 4 Lessons from the New Forrester Study May 9, 2023 | | Innovation by Alex Saric In today’s age of uncertainty, procurement departments are under tremendous pressure. Furthermore, their rapidly shifting nature requires a new level of agility.
In this disruptive age, businesses must move faster and become more agile, so Procurement must respond, to this or we will become obsolete. And increasingly, that means collaborative working with key suppliers who can support that need to be innovative, flexible and agile.
The Power of Source-to-Pay Digital Transformation To put it briefly, source-to-pay refers to the entire process that starts with finding, negotiating with, and contracting the suppliers of materials, goods and services, and culminates in the final payment for those items. Digitalization also fosters greater agility in supplier management.
managingcontracts or ESG performance), spend categories and supporting intelligence. SAP acquired Ariba over a decade ago to manage S2P, especially for indirect spendmanagement, to augment the basic integrated direct spendmanagement functionality within SAP’s ERP system (ECC and now SAP S/4 HANA).
It is a process that creates efficiencies across all spend categories, minimizes supplychain risks through improved supplier selection and awards, while giving visibility into pricing and forecasting. We also now break down the negotiation stage into sourcing and final negotiation of contracts.
Competitors or new market entrants can use it to attack you these days – you don’t need a chain of retail shops on the high street, just a good idea, a great website and an outsourced logistics operation. So the need for businesses to act with speed and agility has never been greater.
Its spendmanagement was fragmented, often requiring tools like Concur. Ramp retains an edge in agility and UX (6,500 hours saved, Forrester), while Amexs legacy brand and Nipendos depth appeal to entrenched corporates. So, why is Ramp “hidden in plain sight” in the procurement and supplychain world?
It starts with identifying the right suppliers for a need, sharing requirements and evaluating supplier offers, selecting the most appropriate supplier, negotiating terms and contracting with them to receive goods and/or services. ContractManagement: The piece that connects the upstream and the downstream, where value starts being captured.
The Essential Guide to Source to Pay, Source to Contract, and Procure to Pay Whether youre new to the world of procurement and supplychainmanagement, or a seasoned veteran; whether you work in a major manufacturing industry, a university, or a medium-sized clinical research organization, you may find procurement jargon rather confusing.
Traditional means of creating value include things like managingcontracts with preferred suppliers , controlling maverick spend, and minimizing warehouse costs. Focusing on sustainability and partnering with a GPO can lead to greater cost reduction and better spendmanagement, as well.
In no order of preference, other than by the date they arrived in our inbox, today let’s hear from: Donna Wilczek, EVP Strategy and Innovation at Coupa , spendmanagement suite provider and one of Spend Matters 50 Procurement Providers to Know. So, 2024 … are you ready for it? Coupa and our customers are ready.
In recent years, however, many teams have managed to successfully shake off this long-outdated reputation. Procurement professionals are now celebrated for their innovation, creativity, agility, and cost-saving initiatives. Reducing suppliers also helps mitigate risk throughout the supplychain. Get new resources weekly!
Finally, procurement teams are responsible for anticipating and responding to disruptions in the supplychain and their own process. From procure-to-pay software to spendmanagement and analysis tools, procurement technologies are disrupting the status quo and bringing efficiency to teams like never before.
With another busy year of procurement and supplychain events tidily packed away behind us, Spend Matters is pleased to provide a round-up of the main events we attended in 2023, with a short recap of each and key takeaways. He then went on to discuss the huge impact of tech on the supplychain industry.
With the increasing complexity of supplychains and the growing importance of sustainability and social responsibility, the role of procurement professionals has become more critical than ever. Improve spendmanagement by implementing a buying plan Effective spendmanagement is crucial for any organization’s financial health.
Most leaders seem to track their progress with metrics such as percent of spendmanaged and digitization levels, defining best-in-class as being the top quartile or similar high percentage. This is where helping organizations innovate, ensuring business agility and even growing revenue comes into play.
Spendmanagement and procurement will play a key role in enabling banks to achieve their efficiency targets while managingsupplychain risks,” he added. Attijariwafa Bank has successfully implemented a source-to-contract solution with the JAGGAER ONE platform.
With new legislation being introduced for 2023 in Europe, such as the SupplyChain Due Diligence Act (SCCDA), CPOs and other procurement and sourcing leaders need to devise an agile procurement strategy to ensure compliance. Investment in technology is crucial and requires even more during the time of an economic downturn. “
How to Implement a Strategic Sourcing Process A play-by-play manual showing how to implement a strategic sourcing process that aligns with your organization’s goals, optimizes spend, and creates long-term value. By proactively addressing risks, organizations can safeguard their supplychains and drive efficiencies.
Business spendmanagement suites, including SAP Ariba and Coupa software, offer marketplaces with App-Store like functionality. From the outside, it appears to be a bid by SAP Ariba, Coupa and other legacy Procure-to-Pay and Source-to-Contract suites to maintain their relevance.
As a GPO, Una can promptly and efficiently comb through your spend categories and identify which ones would benefit most from our collection of pre-negotiated contracts. Fast-growing companies are time-poor, and simply don’t have the resources for lengthy contract negotiations or supplier relationship management.
If you work in procurement and supplychain , you know there are hundreds of technology solutions geared toward making the purchasing process easier and more efficient. It is also common for procurement and IT teams to run lean, making it very easy for tech contracts to be left unmanaged. Get new resources weekly!
Improvements to end-to-end supplychain efficiency. Contracts are usually not covered by S2P technology platforms. We’ll cover what’s the difference between S2P and S2C (Source-to-Contract) in an upcoming article. Contracts are usually not covered by S2P technology platforms. What is the difference P2P and S2P?
Balancing Cost, Resiliency, and Sustainability in Procurement: Insights from Georg Roesch Procurement professionals across industries and markets are struggling to keep their supplychainsagile in a world of constant disruptions. Georg, welcome and thank you so much for joining us today. Georg Well, thank you for having me.
Raindrop Raindrop is one of a number of US procurement startups offering enterprise-level spendmanagement platforms. Raindrop has also been recognised as a cloud-enabled procurement focused Contract Lifecycle Management (CLM) application. FRDM FRDM is a software company specialising in supplychain risk management.
It is the process of acquiring external services to meet the needs of an organization and involves different steps, such as identifying a need, setting up a contract, and managing the relationship between the service provider and the customer.
Many manufacturers also struggle to get a clear view of long-tail spend, since it involves numerous transactions spread across various departments and suppliers. Managing these supplies can be time-consuming and complex, leading to inefficiencies and higher administrative costs. On average, Arkestro sourcing cycles are 46.5%
It enables organisations to achieve a more efficient, transparent and agile procurement process, thus allowing them to focus on strategic decision-making and business growth rather than transactional and operational tasks. Blockchain can be used across various industries, including both finance and end-to-end supplychainmanagement.
The answer lies in the powerful tool of spend analysis. Spend analysis, a cornerstone of procurement and supplychainmanagement, is the process of collecting, cleansing, classifying, and analyzing expenditure data with the goal of reducing procurement costs, improving efficiency, and monitoring compliance.
Being able to adapt fast keeps businesses agile and ready for whatever the market throws their way. Prioritize cybersecurity Make sure that your outsourcing partner has robust cybersecurity measures in place to minimize the chance of a supplychain or back-door attack on your organization.
Procurement can promote employee value all the way down the value chain by ensuring suppliers comply with fair labor practices, ethical standards, and employee well-being. We can play a role in building a supplychain that reflects the positive workplace culture you want to foster within your organization.
No matter the size of your company, how you structure your purchase process has a direct impact on your company’s ability to control costs, manage risks, and maintain process resilience as supplychains evolve. These include increased agility, specialized purchasing, and supplier diversity. Purchasing agility.
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